Bloomberg reported that Bumi Plc Chairman Samin Tan and the Bakrie Group are taking action to fight a bid from founder Nathaniel Rothschild to return to his spot on the board.
As quoted in the market report:
The Bakries said in a separate statement they have the right to nominate Bumi’s chairman, chief executive officer and chief financial officer under the terms of the original $3 billion deal struck in 2010. They also threatened to withdraw support for a plan to exit their investment in the group.
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